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Current as of January 01, 2024 | Updated by Findlaw Staff
(a) For fiscal years beginning after September 30, 2017, and ending before October 1, 2023, all of the revenue derived from the collection of the tax imposed upon all vendors by § 47-2002(a)(1) on the gross receipts from the sale of or charges for the service of parking or storing vehicles or trailers, except the service of parking or storing of motor vehicles or trailers on a parking lot owned or operated by the Washington Metropolitan Area Transit Authority (“WMATA”) and located adjacent to a WMATA passenger stop or station, shall be dedicated annually to paying the District's annual operating subsidies to WMATA.
(b) For fiscal years beginning after September 30, 2023, and ending before October 1, 2027, from the revenue described in subsection (a) of this section there shall be dedicated annually to paying the District's annual operating subsidies to WMATA the lesser of:
(1) All of such revenue; or
(2) An amount equal to 102% of the amount dedicated pursuant to this subsection from such revenue in the prior fiscal year to paying the District's annual operating subsidies to WMATA.
(c) For fiscal years beginning after September 30, 2027, all of the revenue described in subsection (a) of this section shall be dedicated annually to paying the District's annual operating subsidies to WMATA.
Cite this article: FindLaw.com - District of Columbia Code Division VIII. General Laws. § 47-2002.07. Revenue from tax on gross receipts from sale of or charges for service of parking or storing vehicles or trailers dedicated to WMATA operating subsidy. - last updated January 01, 2024 | https://codes.findlaw.com/dc/division-viii-general-laws/dc-code-sect-47-2002-07/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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